Elon Musk Makes History with a Net Worth Exceeding $600 Billion for the First Time Globally
December 16, 20251291 ViewsRead Time: 2 Minutes
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American billionaire Elon Musk has entered an unprecedented phase in the history of wealth, as his net worth surpassed the $600 billion mark, making him the first person in the world to reach this level, according to estimates published by Forbes on Monday.
SpaceX Deals Behind the Sudden Surge
Forbes attributed this significant jump to some employees and investors of SpaceX selling shares of their stock, which allowed for a higher valuation of the privately held company. The magazine relied on the prices at which the stocks were traded in those transactions to raise the company's valuation and, consequently, Musk's stake in it.
Just a few hours before this announcement, Forbes had estimated Musk's wealth at around $500 billion, according to the German news agency, reflecting the speed and magnitude of the changes in estimates.
SpaceX Valuation Doubles
Based on the stock sale prices of employees, Forbes estimated the total value of SpaceX at around $800 billion, compared to a previous estimate of only $400 billion. With Musk owning about 40% of the company, Forbes raised its estimate of his net worth to approximately $677 billion.
Tesla Adds Additional Momentum
Tesla remains one of the main pillars of Musk's wealth, as he owns about 12% of its shares. Despite a decline in sales, the company's stock has risen about 13% since the beginning of the year, and jumped nearly 4% on Monday, following Musk's announcement of testing self-driving robotic cars without safety monitoring screens in the front passenger seat, according to Reuters.
Historic Pay Package
Last November, Tesla shareholders approved a record pay package for Musk estimated at around $1 trillion, making it the largest in corporate history. This support was a reflection of investors' confidence in Musk's vision to transform Tesla into a giant in the fields of artificial intelligence and robotics.
AI Bets
Additionally, media reports indicated that Musk's startup for artificial intelligence, xAI, is in advanced talks to raise $15 billion through a new stock offering, with a valuation that could reach $230 billion, which could give his wealth an additional boost if the deal is completed.
No Official Comment
No official comment has yet been issued by Elon Musk or his companies Tesla, SpaceX, and xAI, in response to requests for comment from Reuters.
SpaceX Deals Behind the Sudden Surge
Forbes attributed this significant jump to some employees and investors of SpaceX selling shares of their stock, which allowed for a higher valuation of the privately held company. The magazine relied on the prices at which the stocks were traded in those transactions to raise the company's valuation and, consequently, Musk's stake in it.
Just a few hours before this announcement, Forbes had estimated Musk's wealth at around $500 billion, according to the German news agency, reflecting the speed and magnitude of the changes in estimates.
SpaceX Valuation Doubles
Based on the stock sale prices of employees, Forbes estimated the total value of SpaceX at around $800 billion, compared to a previous estimate of only $400 billion. With Musk owning about 40% of the company, Forbes raised its estimate of his net worth to approximately $677 billion.
Tesla Adds Additional Momentum
Tesla remains one of the main pillars of Musk's wealth, as he owns about 12% of its shares. Despite a decline in sales, the company's stock has risen about 13% since the beginning of the year, and jumped nearly 4% on Monday, following Musk's announcement of testing self-driving robotic cars without safety monitoring screens in the front passenger seat, according to Reuters.
Historic Pay Package
Last November, Tesla shareholders approved a record pay package for Musk estimated at around $1 trillion, making it the largest in corporate history. This support was a reflection of investors' confidence in Musk's vision to transform Tesla into a giant in the fields of artificial intelligence and robotics.
AI Bets
Additionally, media reports indicated that Musk's startup for artificial intelligence, xAI, is in advanced talks to raise $15 billion through a new stock offering, with a valuation that could reach $230 billion, which could give his wealth an additional boost if the deal is completed.
No Official Comment
No official comment has yet been issued by Elon Musk or his companies Tesla, SpaceX, and xAI, in response to requests for comment from Reuters.
